Chapter
The Rise of Chia and Proof of Space and Time
1:20:07 - 1:25:11 (05:03)
Chia has risen in popularity due to its use of proof of space and time on a blockchain that utilizes hard drives for farming, making hardware requirements unnecessary for mining. This has caused a shortage of hard drives at electronics stores, with people buying them solely for Chia mining.
Clips
Chia is pioneering the concept of "farming," a new way of mining cryptocurrency through proof-of-space with hard drives, instead of proof-of-work with GPUs.
1:20:07 - 1:25:11 (05:03)
Cryptocurrency
Summary
Chia is pioneering the concept of "farming," a new way of mining cryptocurrency through proof-of-space with hard drives, instead of proof-of-work with GPUs. With Ethereum also moving towards proof-of-stake, hardware requirements may become a thing of the past for cryptocurrency mining.